[152 Pages Report] Aquaculture Products Market is projected to grow from a value of USD 28.09 billion in 2017, to reach USD 42.56 billion by 2023, at a CAGR of 7.2%. The years considered for the study are as follows:

Objectives of the Study are as follows:

Market Intelligence

Determining and projecting the size of the aquaculture products market, with respect to its rearing product type, species, culture, production type, and regional presence, over a five-year period ranging from 2018 to 2023

Identifying attractive opportunities in the market by determining the largest and fastest-growing segments across regions

Analyzing the demand-side factors on the basis of the following:

Impact of macro- and micro-economic factors on the market

Shifts in demand patterns across different subsegments and regions

Competitive Intelligence

Identifying and profiling the key players and product providers in the aquaculture products market

Providing a comparative analysis of the market leaders on the basis of the following:

Product offerings

Business strategies

Strengths and weaknesses, opportunities, and threats

Key financials

Understanding the competitive landscape and identifying the major growth strategies adopted by the players across the key regions

Analyzing the regulatory frameworks across regions and their impact on the prominent market players

Providing insights on key investments in product innovations and technology

Research Methodology

This report includes estimations of the market size in terms of value (USD million). Both top-down and bottom-up approaches have been used to estimate and validate the size of the aquaculture products market and of various other dependent submarkets. The key players in the market have been identified through secondary research, and their market shares in the respective regions have been determined through primary and secondary research. All percentage shares, split, and breakdowns have been determined using secondary sources The World Health Organization (WHO), The Food Agriculture Organization (FAO), The US Department of Agriculture (USDA) and The National Oceanic and Atmospheric Administration (NOAA), The International Seaweed Association (ISA), The European Commission, The National Aquaculture Association (NAA), and The World Aquaculture Society (WAS) to identify and collect information useful for the technical, market-oriented, and commercial study of the aquaculture products market.

Target Audience:

Manufacturers in industries such as aqua feed, aquatic animals, and aquatic plants

Government and research organizations

Associations and industry bodies such as The World Health Organization (WHO), The Food Agriculture Organization (FAO), The US Department of Agriculture (USDA), The National Oceanic and Atmospheric Administration (NOAA), The International Seaweed Association (ISA), The European Commission, The National Aquaculture Association (NAA), and The World Aquaculture Society (WAS).

Scope of the report

Based on Rearing Product Type, the aquaculture products market has been segmented as follows:

Equipment

Water Pumps and filters

Containment equipment

Water circulating and aerating equipment

Cleaning equipment

Feeders

Others

Chemicals

Pharmaceuticals

Fertilizers

Based on Species, the aquaculture products market has been segmented as follows:

Aquatic Plants

Seaweeds

Microalgae and other aquatic plants

Aquatic Animals

Finfish

Crustaceans

Mollusks

Others

Based on region, the aquaculture products market has been segmented as follows:

North America

Europe

Asia Pacific

South America

RoW (the Middle East and Africa)

Based on Production Type, the aquaculture products market has been segmented as follows:

Small-scale

Large- & medium-scale

Based on Culture, the aquaculture products market has been segmented as follows:

Freshwater

Brackish water

Marine

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

Further breakdown of the Rest of Europe aquaculture products market; Europe includes Norway, UK, Turkey, France, Spain, Italy, and Rest of Europe.

Company Information

The aquaculture products market is projected to grow at a CAGR of 7.2% from 2018, to reach USD 42.56 billion by 2023 from USD 30.10 billion in 2018. The aquaculture products market is driven by the decline in the amount of captured fish, increasing population, and rise in consumption due to the nutritional value of fish. The decline in the amount of captured fish and the increasing consumption due to rise in income levels has also increased the amount of aquafarming, which, in turn, facilitates the demand for aquaculture products. The rising trend in smart fishing and the increase in seafood trade is also propelling demand.

Based on rearing product type, the chemicals segment holds the second-largest share after equipment during the forecast period. A variety of aqua drugs and chemicals have been used for fish health management and rising aquaculture production. Chemicals are commonly used for pond preparation, disease control and treatment of the carps, tilapia, prawns and weed fishes. The use of chemicals as disinfectants is wide throughout the world in many spheres of aquaculture. Largely, it is being used in intensive culture, particularly in finfish and grow-out facilities. They are used in site and equipment preparation, to maintain hygiene throughout the production cycle and, in some cases, to treat diseases. The rise in adoption of new techniques, systems, and technologies, along with the increase in aquaculture farming expenditure in developing regions, is driving the growth rate for the chemical segment.

Based on production type, the small-scale segment is projected to grow at the fastest growth rate during the forecast period. Developing regions such as Asia Pacific, South America, and Africa are expected to drive the growth of aquaculture, which further supplements the growth of aquaculture products. In these countries, the majority of aquaculture is being done at a small level; and the government is taking various initiatives to support aquafarmers in these regions, as it is one of the major sources of employment. These factors are driving the demand for aquaculture products in the small-scale segment.

In terms of region, the Asia Pacific region is the dominant market for aquaculture and is projected to be the largest for aquaculture products market as well. China, India, Vietnam, Indonesia, Japan, and Thailand are the major countries covered in Asia Pacific. The region is expected to experience a sharp rise in the demand for advanced and latest aquaculture products that help in producing more quality output with available land for aquafarming and enhance the efficiency of aquaculture operations. The expected growth in the number of aquaculture production units in this region is further projected to boost the supply and consumption of aquaculture products. The aquaculture sectors in countries such as China, India, Vietnam, Indonesia, and Thailand are export-oriented; and the aqua-farming sector is of prime importance in these countries, as players here are focusing on technology adoption and automation. This is expected to have a positive impact on the aquaculture products market in the region.

The restraint in the aquaculture products market includes overfishing. The aquaculture industry has surpassed the captured fish market as the top per capita source of fish for human consumption. While this would seem likely to boost wild fish stocks, the practice is not without its disadvantages. In practice, the process often requires a high percentage of protein, which is usually derived from wild fish in their feed. More kilograms of wild fish are subsequently used to raise salmon than farmed salmon produced, thereby depleting the wild fish stocks rather than supplementing them.

These leading players have adopted various strategies such as expansions, mergers & acquisitions, and new product launches to explore new and untapped markets and develop a new customer base for long-term client relationships. This has not only enabled the key players to expand their geographical reach but has also reinforced their market position by helping them to gain a larger share in terms of revenue and product portfolios. Small-scale players have also adopted these strategies to expand their businesses globally by investing in the establishment of manufacturing facilities in various regions. Inorganic growth strategies enable them to improve their technical expertise through intensive R&D infrastructure offered by bigger players.

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